Yesterday’s unemployment figure was released a 336K, 7,000 less than it’s expected 343K. In result of current United States data, many economists have been lead to believe the economy is starting to significantly improve.
Wednesday, the Federal Reserve Meeting was held, where there were no policy changes. There was, however, confirmation of QE continuing. The Federal Reserve has not given a specific time line for that though.
The U.S. government increased taxes on most Americans at the beginning of this year, and many budget cuts began this month. Some may say that these did not affect the economy, but is likely the effects are still to be seen. The Federal Reserve noted that they are worried about the second and third quarter of fiscal tightening.
The federal government raised taxes on most Americans in January and a gaggle of budget cuts began this month, with the economic bite from reduced government spending expected to be concentrated in the next few months.
The Fed Head Speaks
Monday, Federal Reserve Chairman Ben Bernanke is scheduled to speak at a panel discussion with Bank of England Governor Mervyn King. It may only be a discussion, but it is possible that they will say market moving words at that time.
Overview of next week’s major events:
Monday: Ben Bernanke Speaks
Tuesday: AUD Governor of Reserve Bank of Australia.
Wednesday: U.S. Pending Home Sales
Thursday: Unemployment Claims
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